The following information is part of the consolidated financial statements as of 31 December 2003, which were audited and issued with an unqualified certificate by KPMG Deutsche Treuhand AG, Wirtschaftprüfungsgesellschaft.

Consolidated Income Statement

The accompanying notes are an integral part of the Consolidated Financial Statements.

 
Income Statement
in € m. [Notes] 2003 2002 2001
Interest revenues [23], [31] 27,583 35,781 53,639
Interest expense [23], [31] 21,736 28,595 45,019
Net interest revenues   5,847 7,186 8,620
Provision for loan losses [6], [7], [8] 1,113 2,091 1,024
Net interest revenues after provision for loan losses   4,734 5,095 7,596
Commissions and fees from fiduciary activities   3,273 3,926 3,537
Commissions, broker 's fees, markups on securities underwriting and other securities activities   3,564 4,319 4,557
Fees for other customer services   2,495 2,589 2,633
Insurance premiums   112 744 2,717
Trading revenues , net [31] 5,611 4,024 6,031
Net gains on securities available for sale [5] 20 3,523 1,516
Net loss from equity method investments [6] (422) (887) (365)
Other revenues [6], [13], [31] 768 1,123 295
Total noninterest revenues   15,421 19,361 20,921
Compensation and benefits [20], [25], [31] 10,495 11,358 13,360
Net occupancy expense of premises   1,251 1,291 1,334
Furniture and equipment   193 230 357
IT costs   1,913 2,188 2,343
Agency and other professional service fees   724 761 1,080
Communication and data services   626 792 891
Policyholder benefits and claims   110 759 3,002
Other expenses   2,002 2,883 3,182
Goodwill impairment/amortization [12] 114 62 871
Restructuring activities [29] (29) 583 294
Total noninterest expenses   17,399 20,907 26,714
Income before income tax expense and cumulative effect of accounting changes   2,756 3,549 1,803
Income tax expense [26] 1,327 372 434
Reversal of 1999/2000 credits for tax rate changes [26] 215 2,817 995
Income before cumulative effect of accounting changes, net of tax   1,214 360 374
Cumulative effect of accounting changes, net of tax [2] 151 37 (207)
Net income   1,365 397 167
 
 
Earnings per Share Figures
in € [Notes] 2003 2002 2001
Earnings per common share [2], [12], [20], [27]      
Basic        
Income before cumulative effect of accounting changes, net of tax   2.17 0.58 0.60
Cumulative effect of accounting changes, net of tax   0.27 0.06 (0.33)
Net income   2.44 0.64 0.27
Diluted        
Income before cumulative effect of accounting changes, net of tax   2.06 0.57 0.60
Cumulative effect of accounting changes, net of tax   0.25 0.06 (0.33)
Net income   2.31 0.63 0.27
Cash dividends declared per common share 1.30 1.30 1.30